Bright Scholar Education Holdings Limited announced unaudited consolidated earnings results for the first quarter ended November 30, 2017. Revenues for the first fiscal quarter were RMB 465.2 million, representing 23.0% increase from RMB 378.2 million in the same period of last fiscal year. Operating income for the quarter was at RMB 137.1 million, representing a 27.6% increase from RMB 107.4 million in the same period of last fiscal year. Net income and adjusted net income for the quarter were at RMB 119.1 million, representing a 42.0% increase from RMB 83.9 million in the same period of the last fiscal year. Basic and diluted and adjusted basic and diluted net profit per ordinary share/ADS attributable to ordinary shareholders/ADS holders, on an as-converted basis, for the quarter were RMB 1.02 and RMB 1.02, respectively, up 67.2% as compared to profit of RMB 0.61 and RMB 0.61, respectively, in the same period of last fiscal year. Adjusted EBITDA for the quarter was RMB 161.4 million, representing a 28.6% increase from RMB 125.5 million in the same period of last fiscal year. Income before income taxes was RMB 146,645,000 against RMB 108,128,000 a year ago. Net cash used in operating activities was RMB 272,340,000 against RMB 206,765,000 a year ago. EBITDA was RMB 161,441,000 against RMB 125,519,000 a year ago.

The company reaffirms its guidance for the fiscal year ending August 31, 2018 of organic growth published on November 8, 2017, which is based on the current market and operating conditions and reflects the Company's current and preliminary estimates of such market and operating conditions and customer demand, all subject to change.